NOVONIX Ltd - Capital/Financing Update 2016

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ASX ANNOUNCEMENT 2 3 February 2 016

INITIAL BENEFICIATION STUDY RESULTS

HIGHLIGHTS:

INDEPEN D ENT LEA D ING EU R OPEAN L ABORATO R Y PROD U CED 99.93% GRAPHITE CONCEN R ATE FROM MOUNT DROMED A RY PHAS E 1 DRIL L ING SAMPLES
THE LAB O RATORY ADVISES T H AT THE S A MPLES O F FER POT E NTIAL TO USE THIS PRO D UCT AS F E ED MATERIAL FOR S P HERICAL G RAPHITE F O R BATTE R IES
• OTHER C O MMERCIA L APPLICA T IONS OF THIS GRAPHITE WE R E IDENTI F IED FROM PU R IFIED GRA P HITE ACH E VIED IN INITIAL BENEFICIATION T ESTING

Graphitecorp Limited (ASX: GRA) (“Gra p hitecorp” or “the Company”) is please d to advise i t has rec e ived of the first results of beneficiatio n studies und e rtaken by a leading inde p endent European lab o ratory specialising in mine r al processing and purification and a leader in the grap h ite sector.

The independen t laboratory c onfirmed it h ad produced battery gra d e graphite o f 99.93% (c a rbon con t ent) using a combination of mechani c al and che m ical process e s from sam p les taken during Graphitecorp’s P hase 1 drilling program at the Mo u nt Dromedary Flake G r aphite Proje c t in Qu e ensland, Australia.

The laboratory a d vised that ch a racteristics o f the sample o re from the M ount Drome d ary deposit offered advantag e s including t h e ability to u s e this produc t as feed mat e rial for the pr o mising mark e t of sph e rical graphit e in battery applications.

The laboratory al s o suggested potential for u sing this gra p hite product from Mount D r omedary ore in the f ollowing high tech and tra d itional graphi t e application s :

Fuel cell applications
Additive material for plastic or rubb e r industries
Lubrica n ts and releas i ng agents
Powder forging, alloy and sintering control in po w der metallurgical industry
• High te m perature coa t ings
Other b a ttery applicat i ons
• Conduc t ive plastic an d polymer ap p lications.

Next Steps

The Company intends to co m plete the pla n ned assay, metallurgical and benefici a tion testwor k and stu d ies on sampl e s obtained fr o m the Phas e 2 Drilling Pr o gram comple t ed in Decem b er last year.

Graphitecorp will also finalise and commis s ion a second phase testw o rk program o n purificatio n and sub s equent proc e ssing to bet t er understan d the commercial potential of the Moun t Dromedary flake gra p hite deposit, including detailed spheroi d ization eval u ation tests a s anode mat e rial for lithiu m ion batt e ries.

The outcomes of the metallur g ical and ben e ficiation studies will be us e d to progres s discussions with pot e ntial graphite users in Asia and elsewhe r e.

GRAPHITECORP LIMITED (ACN 157 690 830)

ASX Code: GRA GP O Box 525 Brisba n e Qld 4001 A U STRALIA tele p hone +61 414 9 7 0 566 email c o ntact@graphite c orp.com.au

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Above: Photographs of graphite o r e (RC chips) samples “MD 02 22-56 M” (left) an d “MD 04 10- 3 6 M” (right) fr o m Phase 1 D rilling Program

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Above: SEM mi c rograph of graphite flotation concentrat e after conven t ional pro c essing and c h emical proc e ssing L3; Ma g nification 1.000x

FOR FURTHER INFORMATION

Philip St Baker Ma n aging Direct o r Ph o ne: +61 438 173 330 Em a il: contact @ graphitecor p .com.au We b site: www.gr a phitecorp.co m .au

GRAPHITECORP LIMITED (ACN 157 690 830) ASX Code: GRA

GP O Box 525 Brisba n e Qld 4001 A U STRALIA tele p hone +61 414 9 7 0 566 email c o ntact@graphite c orp.com.au

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ABOUT GRAPHITECORP

Graphitecorp Limited is a de v eloper of a h i gh grade flak e graphite de p osit located i n Queenslan d and referred to as the Mount Drom e dary Flake G raphite Proje c t.

The Mount Dromedary Flake G raphite Proj e ct is well located 125 km north of Clo n curry in nort h west Qu e ensland, Au s tralia, in an established mi n ing province, and adjace n t to a sealed highway that runs sou t h to the mini n g town of Cl o ncurry and n o rth to the por t town of Karumba.

Graphitecorp ha s an 80% int e rest in the n o rthern secti o n of the Mo u nt Dromedar y graphite d e posit rep r esenting app r oximately 90 % of the map p ed surface area of the de p osit and has a 100% inter e st in the southern sec t ion of the deposit which has approxim a tely 10% of the mapped surface area o f the dep o sit. Graphit e corp has an effective 82 % interest in the whole Mount Dromedary flake graphite dep o sit based on mapped surf a ce area.

The Mount Drom e dary Graphit e Deposit wa s explored an d mapped previously in the 1970s and 1 9 90s, and more recentl y by Graphite c orp since 20 1 4. With ave r age graphite grades exce e ding 15%, mineral exp l oration has identified an d confirmed f lake graphit e mineralizati o n hosted in schist and s late, out c ropping over a 3,000m stri k e-length, wit h thicknesses in excess of 3 0m and up-t o 240m.

For more information on Graphitecorp pleas e visit our we b site at www. g raphitecorp.c o m.au

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